Search

1441. ECB raises interest rates by 0.5%

Christine Lagarde warned markets not to expect an early end to rate rises next year, on a day when the European Central Bank and the Bank of England lifted borrowing costs to their highest levels in 14 years....

1442. Boris Becker released from UK jail, will be deported

Former Wimbledon champion Boris Becker has been released from jail today and will be deported from the UK, according to the PA news agency....

1443. KEDIPES disburses another €80 million to the state

The Board of Directors of the state-owned asset manager, KEDIPES, has decided to disburse another €80 million to state coffers for the fourth quarter of this year, with the amount paid to the state in 2022 reaching €310 million....

1444. Cyprus airways unveils strategic plans, new routes

Cyprus Airways on Wednesday unveiled its five-year strategic plan announcing the expansion of is flight schedule to five new routes, namely Milan, Zurich, Prague, Basel, and Cairo...

1445. Kaili’s lawyer drops hint about Italian job

There is conflicting information about a corruption investigation in the European Parliament following the arrest of a Greek former VP, with media reports speculating she was being detained in connection with Qatar while her lawyer is pointing the finger squarely at her Italian fellow suspects including her male partner...

1446. Kaili in custody until next week - Decision on the three is expected

Eva Kaili, a Greek MEP and former vice-president of the European Parliament, will be detained until next week, according to AFP....

1447. Gatzke-Hellenic relations have returned to normal

After taking a brief leave of absence, Hellenic Bank CEO Oliver Gatske has returned to his duties. Mr. Gatske was given the green light to return to his office on Monday after the Cyprus Securities and Exchange Commission cleared him of any wrongdoing....

1448. Cyprus to extend FTX EU license suspension

Cyprus’ securities regulator plans to extend the suspension of the license of FTX EU and will meet to discuss the matter next week, a spokesperson said on Tuesday...

1449. €36 million loss so far reported by banks this year

The banking system reported a loss after tax of €36 million on a consolidated basis in the first nine months of 2022, compared to a profit of €22.54 million in the corresponding period of 2021....

1450. More EU Parliament offices raided in corruption probe

Belgian police conducted more raids at European Parliament offices Monday as the legislature’s president pledged to launch an internal investigation into corruption allegations and the bloc’s top official called for the creation of an EU-wide independent ethics body...

1451. Gatzke returns to Hellenic

Oliver Gatzke, CEO of the Hellenic Bank, has returned to the Bank of Greece's headquarters as of today, December 12....

1452. EU Parliament VP suspended on serious corruption charges

The Belgian judiciary has arrested four people as part of an investigation into a corruption case involving bribery from Qatar, while two others have been released....

1453. Breast cancer screening: The case of Cyprus

Population screening for breast cancer with mammography, and in some women, ultrasound screening, has been shown to reduce mortality from this disease....

1454. The 2023 Budget in the vortex of the elections

The government of President Anastasiades has just submitted its final budget, for 2023. DISY will undoubtedly support the budget, but it will be interesting to see what position it will take if and when the polls are confirmed....

1455. CBC Governor: 'Any recession is expected to be mild and short-lived'

Constantinos Herodotou, Governor of the Central Bank of Cyprus, talked about the ECB objective and actions to restore and stabilize inflation at 2% in the medium term and maintain financial stability, saying that any recession is expected to be mild and short....

1456. Tying up loose ends at Hellenic

Hellenic Bank experienced several changes in 2022, as it closed outstanding issues while also opening new chapters. Hellenic Bank made changes to its top management, staff, shareholding composition, and labor issues in the fourth quarter of 2022, ...

1457. Hellenic CEO cleared of any wrongdoing

Oliver Gatzke, CEO of Hellenic Bank, has not been linked to any suspicious activity, according to the Cyprus Securities and Exchange Commission (CySEC)....

1458. Nicosia stays course as economic growth loses steam

Cypriot public finances have improved due to increased growth, although they are expected to be adversely affected due to a projected slowdown in the next few months, according to the 13th Post-Programme Surveillance Report for Cyprus...

1459. Kyriakides: 'Cancer Research Institute a jewel for our country'

The Cyprus Cancer Research Institute (CCRI) is a jewel for our country, according to EU Health Commissioner Stella Kyriakides, who visited the University of Cyprus construction site on Friday....

1460. 'FTX-style crypto crash won’t happen in Europe'

The cryptocurrency world is reeling after the collapse of crypto exchange FTX — but EU policymakers are patting themselves on the back....

1461. Hellenic Bank soon to be under the control of Eurobank

Eurobank is gaining control of Hellenic Bank after purchasing Wargaming's 13.4% stake. With the addition of the 12.6% it held from the purchase of all shares in Third Point Hellenic Recovery Fund in the summer of 2021, it now stands at 26%....

1462. €76.4m profit in first 9 months of 2022 for Hellenic

Hellenic Bank announced a profit of €76.4 million for the first 9 months of 2022. According to the Group Financial Results for the nine-month period, ...

1463. Wasted food can feed starving people worldwide four times over

Food waste is one of the most important challenges we are faced with today, Agriculture Minister Costas Kadis said on Tuesday, adding that it leads to serious economic, social and environmental repercussions on the entire planet....

1464. World's largest crypto exchange platform to set up shop in Cyprus

The FTX bankruptcy scandal a few weeks ago rocked the entire crypto world to its core, after its founder Sam Bankman-Fried, the "wonderboy" of the crypto trading world,...

1465. The effects of Global warming on banks and insurance companies

One of the last print editions of the Economist had the title ‘Say goodbye to 1.5° C’ which refers to the goal of limiting the increase in the average temperature of the planet to 1.5 degrees Celsius...

1466. Small number of banks meeting new loan demand

The net demand for loans from businesses in Cyprus decreased in the third quarter of 2022, and banks anticipate a similar decline in the net demand for loans from businesses and households in all loan categories in the fourth quarter of 2022 compared to the third quarter. ...

1467. Bank's chairman buys BOC shares for 3 consecutive days

1468. North detains two teens on counterfeit spending spree

Two Greek Cypriot teenagers accused of using fake money to make purchases in the north have been arrested by Turkish Cypriot police, while another man from the south was detained after cartridges were found in his vehicle...

1469. 14 billion euros of loans on ice due to the suspension of foreclosure sales

In Cyprus, credit purchasing companies manage over 80,000 loans totaling €20 billion....

1470. The consequences of continuing foreclosure suspensions

Lambros Papadopoulos, President of the state-owned asset management company, KEDIPES, warned on Tuesday that the continued suspension of foreclosures will negatively affect the company’s revenue from non-performing loans (NPLs) management resulting in a reduced repayment of state aid....